Victory Capital Management Inc. has made a notable move in the financial markets, significantly increasing its stake in Vitesse Energy, Inc. This strategic adjustment highlights a broader trend among institutional investors actively re-evaluating their portfolios within the dynamic energy sector.
The investment firm expanded its position in Vitesse Energy (NYSE:VTS) by a substantial 19.2% during the first quarter. This increase translates to the acquisition of an additional 3,357 shares, bringing Victory Capital Management Inc.’s total holdings to 20,838 shares, valued at an impressive $512,000 as detailed in its recent Form 13F filing with the Securities & Exchange Commission.
Beyond Victory Capital, a multitude of other prominent hedge funds and institutional investors have also adjusted their positions in Vitesse Energy. Nuveen Asset Management LLC, for instance, boosted its holdings by 1.3% in the fourth quarter, now owning 419,818 shares worth $10,495,000. Similarly, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., Principal Financial Group Inc., and Northern Trust Corp have all increased their stakes, showcasing a collective institutional interest in the company’s future.
Market analysts have weighed in with varying perspectives on Vitesse Energy’s prospects. While some have issued “sell” or “market perform” ratings, others maintain a positive outlook with “buy” recommendations and price targets reaching up to $26.00. The consensus among these equity research analysts currently places the stock with an “average rating of ‘Hold’ and an average target price of $26.50,” indicating a cautious yet stable sentiment.
From a financial standpoint, Vitesse Energy (NYSE:VTS) exhibited a trading price of $23.14 on Friday. The company’s financial health is further illuminated by its current and quick ratios, both standing at 0.73, and a debt-to-equity ratio of 0.18. With a market capitalization of $893.44 million and a P/E ratio of 29.29, Vitesse Energy operates with a beta of 0.67, suggesting lower volatility relative to the broader market. The stock has fluctuated between a 1-year low of $18.90 and a 1-year high of $28.41, with its 50-day and 200-day simple moving averages hovering around $23.11 and $23.51 respectively.
In a significant announcement for its shareholders, Vitesse Energy recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.5625 dividend. This represents an annualized payout of $2.25 and a yield of 9.7%. It is worth noting that the company’s payout ratio stands at 284.81%, reflecting a high proportion of earnings distributed as dividends.
Vitesse Energy, Inc., through its subsidiaries, is actively engaged in the acquisition, development, and production of non-operated oil and natural gas properties across the United States. Its primary focus is on owning and acquiring non-operated working and royalty interests within the resource-rich Williston Basin, encompassing areas in North Dakota and Montana. This core business model positions the company directly within the vital domestic energy production landscape, making it a key player in the nation’s energy independence efforts.
